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News

Exxon Mobil's Options Frenzy: What You Need to Know

Author: Benzinga Insights | July 05, 2024 10:49am

Investors with a lot of money to spend have taken a bullish stance on Exxon Mobil (NYSE:XOM).

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with XOM, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 8 uncommon options trades for Exxon Mobil.

This isn't normal.

The overall sentiment of these big-money traders is split between 37% bullish and 37%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $102,035, and 6 are calls, for a total amount of $311,848.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $95.0 to $120.0 for Exxon Mobil over the last 3 months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Exxon Mobil's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Exxon Mobil's whale activity within a strike price range from $95.0 to $120.0 in the last 30 days.

Exxon Mobil Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
XOM CALL TRADE BULLISH 07/12/24 $0.56 $0.53 $0.56 $115.00 $128.8K 1.3K 778
XOM CALL SWEEP BEARISH 03/21/25 $22.65 $22.2 $22.2 $95.00 $57.7K 45 0
XOM PUT SWEEP BEARISH 01/17/25 $9.5 $9.35 $9.35 $120.00 $57.0K 8.0K 0
XOM PUT TRADE BULLISH 09/20/24 $2.54 $2.2 $2.25 $110.00 $45.0K 5.0K 2
XOM CALL SWEEP BEARISH 06/20/25 $9.8 $9.35 $9.39 $115.00 $37.7K 3.8K 11

About Exxon Mobil

ExxonMobil is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2023, it produced 2.4 million barrels of liquids and 7.7 billion cubic feet of natural gas per day. At the end of 2023, reserves were 16.9 billion barrels of oil equivalent, 66% of which were liquids. The company is one the world's largest refiners with a total global refining capacity of 4.5 million barrels of oil per day and is one of the world's largest manufacturers of commodity and specialty chemicals.

Having examined the options trading patterns of Exxon Mobil, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Exxon Mobil Standing Right Now?

  • Trading volume stands at 2,507,376, with XOM's price down by -1.43%, positioned at $113.12.
  • RSI indicators show the stock to be is currently neutral between overbought and oversold.
  • Earnings announcement expected in 21 days.

Professional Analyst Ratings for Exxon Mobil

2 market experts have recently issued ratings for this stock, with a consensus target price of $139.0.

  • Reflecting concerns, an analyst from Truist Securities lowers its rating to Hold with a new price target of $124.
  • An analyst from UBS has decided to maintain their Buy rating on Exxon Mobil, which currently sits at a price target of $154.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Exxon Mobil options trades with real-time alerts from Benzinga Pro.

Posted In: XOM